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Planning for Growth - PDF

   

Added on  2020-09-17

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Planning for Growth

Table of ContentsINTRODUCTION...........................................................................................................................1TASK 1............................................................................................................................................1P1 Analysing The major considerations for evaluating growth opportunities ......................1P2 Evaluating the opportunities of growth in relation to Ansoff matrix. .............................3LO 2.................................................................................................................................................5P3 Description on the potential resources of funding to business enterprise and define variousbenefits in relation to this.......................................................................................................5P4 Draw an effective business plan. ......................................................................................5P5 800 Exist and success plan for small businesses...............................................................7CONCLUSION................................................................................................................................9

INTRODUCTIONPlanning activity is very important for any business for sustaining in competitiveenvironment. Every successful organisation regularly reassess its business plan in order to ensurethat the strategies is able to fulfil the need of company. It is very significant for manager inbusiness entity to analyse and measure the current performance of firm on regular basis>as thiswill assist manger in formulating as well as implementing suitable strategy for enhancingorganisational growth. Business Plan drives enterprise towards achievement of goal. It Providesoutline about various activities that are required to be executed for achieving business objectives.Plans support firm in ensuring success and growth. These plans can be very useful for smallmedium enterprise for fostering growth process.The report has focus on analysing the effect of digital supporting small businessenterprise in its growth and innovation process. It will emphasize on identifying the strategiesadopt by Talent Plus which is small enterprise in UK. The company provides human resourcesolution to other organisation.TASK 1P1 Analysing The major considerations for evaluating growth opportunities Competitive advantage:Core competencies: Advance position in the industry and expertise in the field of humanresource management. The organisation has Well qualified and diverse team of employees.Effective communication skills and attractive marketing strategies. Advance technology forprovide Human resource solution. Expertise in field.Resources: Pro resources have potential of producing a larger, stronger and more qualifiedemployee selection for fulling customised staff requirement. The uniqueness of the firm is that ithave focus on providing benefit to their own team. Talent plus has unique and expensiveresources. It has both tangible and intangible resources. Being a small and medium enterprise, ithas good brand name and recognition in market. Advance Technology is the valuable resourcesthat has provided Talent plus an opportunity to innovation process and identifying varioustechniques to attract applicants. Technology has provided firm a chance to reach wide number ofjob seekers and provide them effective career solutions. Another valuable resources is its team ofexpertise that has enabled business entity to provide effective as well as suitable career solutionsto candidates.1

Strategy-The Strategy of Talent Plus to create total employment package including training anddevelopment programmes in order to attract better and talented workers that enables businessentity to foster growth and achieve success. The strategy of business unit have focus on usinginnovative, proactive recruiting methods that also includes Job fairs, diverse advertisementplacement etc. It has introduces many referral incentive program in order to attract more numberof applicants. Capabilities- The company has Capabilities and potential to grow its business and facilitateinnovation techniques to attract customers.Porters Five force ModelThe porters fiver force model have been structured in order to support organisation todevelop understating about the industry and environment in which it is operating. It also assistsbusiness entity in identifying the position which is more profitable. The Porters Five Forces willallow enterprise to determine the chances of organisation in industry to generate profits oncapital investment. Porters Five forces Intends to define the Position of Ta;lent Plus company inthe industry and allow to analysis the way for improvement.Threat of New entry: As talent plus is dealing in Human resource and career solution sector therecould be low risk of new entry due to evolving regulations related to human resourcemanagement practices.. Threat of substitute-There is less threat of substitute product as it is dealing in service sector. Butcompany has threat from existing competitors within the industry that has potential to introduceadditional services and new products. The Professional Placement and Stud er group are the bigcompetitor of Talent Plus. As studer group is offering Quick as well as effective services toapplicants. Professional Group is providing various educational packages and kits in order toattract customers. This factors have great effect on the growth and revenue generation capacityof Talent Plus. Bargaining power of Buyer-There is high bargaining power of buyer. As they are job seekersthey have high potential to bargain with placement agencies in order to reduce the prices ofservices and products.Bargaining Power of Supplier-The bargaining power of supplier is high. As the suppliers aremore interested in constructing deal with big organisation in order to deliver their goods andservices to customers. Supplier does not get much profit working with small enterpriser.2

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